FormFactor, Inc. (NASDAQ:FORM) Short Interest Up 11.3% in August

FormFactor, Inc. (NASDAQ:FORM) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,480,000 shares, a growth of 11.3% from the August 15th total of 1,330,000 shares. Based on an average daily volume of 670,400 shares, the short-interest ratio is currently 2.2 days.

Shares of NASDAQ FORM opened at $24.35 on Friday. The firm has a market cap of $1.88 billion, a PE ratio of 30.06 and a beta of 1.25. The company has a current ratio of 3.70, a quick ratio of 2.98 and a debt-to-equity ratio of 0.04. FormFactor has a 1-year low of $16.35 and a 1-year high of $33.07. The company has a fifty day moving average price of $26.86 and a 200 day moving average price of $25.32.

FormFactor (NASDAQ:FORM) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.05. The firm had revenue of $157.82 million during the quarter, compared to analyst estimates of $159.00 million. FormFactor had a net margin of 9.92% and a return on equity of 12.84%. Equities research analysts forecast that FormFactor will post 1.11 EPS for the current year.

Several equities analysts have recently issued reports on the stock. Citigroup raised shares of FormFactor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $27.00 to $36.00 in a report on Monday, July 20th. Zacks Investment Research raised shares of FormFactor from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Tuesday, August 4th. DA Davidson raised shares of FormFactor from a “neutral” rating to a “buy” rating and boosted their price target for the company from $25.00 to $30.00 in a report on Monday, June 1st. Sidoti boosted their price target on shares of FormFactor from $28.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, BidaskClub lowered shares of FormFactor from a “hold” rating to a “sell” rating in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $32.60.

In other FormFactor news, CEO Mike Slessor sold 25,000 shares of FormFactor stock in a transaction on Friday, September 4th. The shares were sold at an average price of $24.44, for a total transaction of $611,000.00. Following the completion of the sale, the chief executive officer now owns 401,633 shares of the company’s stock, valued at approximately $9,815,910.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sheri Rhodes sold 2,010 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $31.90, for a total transaction of $64,119.00. Following the completion of the transaction, the director now directly owns 2,009 shares of the company’s stock, valued at approximately $64,087.10. The disclosure for this sale can be found here. Insiders sold a total of 77,010 shares of company stock valued at $1,928,119 in the last 90 days. 1.22% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of FORM. FMR LLC lifted its position in FormFactor by 261,685.1% during the 1st quarter. FMR LLC now owns 1,020,962 shares of the semiconductor company’s stock worth $16,427,000 after buying an additional 1,020,572 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in FormFactor during the 1st quarter worth about $16,102,000. Nuveen Asset Management LLC lifted its position in FormFactor by 110.1% during the 1st quarter. Nuveen Asset Management LLC now owns 991,975 shares of the semiconductor company’s stock worth $19,928,000 after buying an additional 519,861 shares in the last quarter. Prudential Financial Inc. lifted its position in FormFactor by 246.1% during the 2nd quarter. Prudential Financial Inc. now owns 643,396 shares of the semiconductor company’s stock worth $18,870,000 after buying an additional 457,496 shares in the last quarter. Finally, Morgan Stanley lifted its position in FormFactor by 90.1% during the 1st quarter. Morgan Stanley now owns 886,871 shares of the semiconductor company’s stock worth $17,819,000 after buying an additional 420,300 shares in the last quarter. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

About FormFactor

FormFactor, Inc designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and Systems. The company offers probe cards that are used to test various semiconductor device types, including system on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies.

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